Archive for the ‘Financial’ Category

GOOGLE has an outsize image as the deft master of information. Its superior technology seems to pitilessly grind up its rivals. But Google’s domination in search has proved hard for it to match in some information domains. When serving financial news and information, for example, Yahoo draws 17.5 times the traffic of Google, according to comScore Media Metrix.

James Pitaro of Yahoo says users become anxious if too much financial information is presented on a page.

Yahoo Finance, which has occupied the top spot in the category for 19 consecutive months, drew 21.7 million unique United States visitors in July; Google Finance drew only 1.2 million unique visitors, placing it 17th in comScore’s rankings for the category, one slot above a site called FreePressRelease.com.

Yahoo understands that information about money — a user’s own money — presents some tricky psychological issues. James Pitaro, vice president of Yahoo’s audience group, said, “In our research with users, we found that the more information that was displayed on the page, the greater the anxiety.”

He said Yahoo deliberately adopted what he calls “the Apple model — simplicity in design; a clean, simple look, not overburdening our users with too much information on the page.”

Google seems to pay no heed to such psychology. Google Finance, which was introduced in 2006 and shed its “beta” label earlier this year, hews to its original strategy: offer the best data and charts. And when that doesn’t work, offer still more data and charts.

Yahoo Finance is organized into sections: investing; news and opinion; personal finance; customized portfolio tracking; and “Tech Ticker,” short video features that have supplied an average of 450,000 streams a day in recent months, Yahoo says. When you click on a link to a news story accompanied by a Tech Ticker video, it starts automatically and seems intended to insert a warm human presence on the page. The video player is on one side of the page and is stationary; the visitor scrolls down on the other side to read news articles.

Germany’s economics ministry is drawing up a raft of special measures with the Bundesbank to head off a fresh financial crisis, fearing that a loan squeeze by struggling banks will set off a serious credit crunch early next year.

“The most difficult phase for financing is going to be in the first and second quarter of 2010,” said Hartmut Schauerte, the economic state secretary.

“We are working as a government to create instruments that can offset a feared credit crunch or any credit squeeze in sectors of the economy,” he said.

Mr Schauerte said firms with weak balance sheets may struggle to roll over loans as they come due in coming months. Negotiations with banks could prove “very difficult”.

State support is likely to be concentrated on boosting the capital base of German firms and providing credit insurance for exporters, perhaps to the tune of €250bn to €300bn (£256bn). “If this service fails, we are going to see dozens of credit collapses,” he said. Read More

NEW YORK – The publisher of Reader’s Digest, the country’s most popular general interest magazine, said Monday it will seek Chapter 11 protection from creditors amid declining circulation, an industrywide advertising slump and large debts.

Reader’s Digest Association Inc. said it has reached an agreement with a majority of secured lenders to restructure its debt. Under the plan, the lenders get ownership of the company and will erase much of the $1.6 billion they have in senior secured notes.

The monthly magazine, founded in 1922 as a collection of condensed articles from other publications, has been searching for a niche as the Internet upends the magazine industry’s traditional business models. Read More

US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research. The fees are nearly double those reported in 2000. Read More

NEW YORK (Reuters) – Gucci America sued several credit card processing companies for trademark infringement on Thursday on grounds those companies facilitated the sale of counterfeit Gucci bags on the Internet.Read More

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